哈佛微观经济学课件(英文版)
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微观经济学英文版ppt课件ch05checkpoint
CHECKPOINT 5.2
Practice Problem 2
You are told that a 10 percent increase in the price of a good has led to a 1 percent increase in the quantity supplied of the good after one month and a 25 percent increase in the quantity supplied after one year. What is the elasticity of supply of this good after one year? Has the supply of this good become more elastic or less elastic? Why?
CHECKPOINT 5.2
Practice Problem 1
You are told that a 10 percent increase in the price of a good has led to a 1 percent increase in the quantity supplied of the good after one month and a 25 percent increase in the quantity supplied after one year. Is the supply of this good elastic, unit elastic, or inelastic? Is this good likely to be produced using factors of production that are easily obtained? What is the price elasticity of supply of this good?
微观经济学 英文课件Week 7_II
relationship between inputs and outputs, which expressed in the mathematical form. q = f(K,L,M,….) The function tells that output (q) is a function to capital input (K), labor (L), raw material (M) and others. In essence, a firm must know how to allocate resources K,L,M… to yield output, q.
Diminishing Marginal Product: Although adding inputs into the production is generally viewed can increase output. However, firms cannot continuously add inputs to its production process.
Suppose AP is 400 units when 25 labors are used with total output = 10000 units. If labor increases to 50 people, AP falls to 200 units. Since MP is falling with additional labor, AP is also falling. With 50 workers, MP may be zero if TP is maximum, but AP is still positive figure.
微观经济学英文课件Ch
– 着眼于推动技术进步的政府对经济的干预政策成为技术 政策。
• Patent laws are a form of technology policy that give the individual (or firm) with patent protection a property right over its invention.
Examples of Negative Externalities 负的外部性的例子
• Automobile exhaust • Cigarette smoking • Barking dogs (loud pets) • Loud stereos in an apartment building • Stinky Toufu
Pollution and the Social Optimum...
Price of Aluminum
Cost of pollution
Social cost
Supply
(private cost)
Optimum
Equilibrium
Demand
(private value)
0
Qoptimum QMARKE
0
QMARKET QOPTIMUM
Quantity of Robots
Positive Externalities in Production
• The intersection of the demand curve and the social-cost curve determines the optimal output level.
T
Quantity of Aluminum
Negative Externalities in Production 生产中的负的外部性
• Patent laws are a form of technology policy that give the individual (or firm) with patent protection a property right over its invention.
Examples of Negative Externalities 负的外部性的例子
• Automobile exhaust • Cigarette smoking • Barking dogs (loud pets) • Loud stereos in an apartment building • Stinky Toufu
Pollution and the Social Optimum...
Price of Aluminum
Cost of pollution
Social cost
Supply
(private cost)
Optimum
Equilibrium
Demand
(private value)
0
Qoptimum QMARKE
0
QMARKET QOPTIMUM
Quantity of Robots
Positive Externalities in Production
• The intersection of the demand curve and the social-cost curve determines the optimal output level.
T
Quantity of Aluminum
Negative Externalities in Production 生产中的负的外部性
微观经济学英文课件
Edited by Yong, E.L.
Continuously,
Microeconomics is also used for evaluating broad question in regards to government policy (although this is more to macroeconomics).
Edited by Yong, E.L.
Continuously,
If the firm produces 6 units of apple and 12 units of apple pie wants to increase the production of apple pie by one unit to the 13th unit. It has to forgo 2 units of apple so that resources can be shifted to produce the additional apple pie; Opportunity Cost is thus 2.
Edited by Yong, E.L.
Continuously,
If the firm produces 10 units of apple and 6 units of apple pie wants to increase the production of apple pie by one unit to the 7th unit. It has to forgo 1 unit of apple so that resources can be shifted to produce the additional apple pie; Opportunity Cost is thus 1.
(微观经济学英文课件)Chap 13 The costs of production
Harcourt, Inc. items and derived items copyright © 2001 btors of production
labor,L
capital，K
natural resource，N entrepreneur, E
So ….. production function Q=f( K , L, N, E)
TC TVC
TFC Q
Average cost
Average Fixed Costs (AFC)
Average Variable Costs (AVC)
Average Total Costs (AC)
AC = AFC + AVC
A F C = F ixed co st = F C Q u an tity Q
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Total cost
Total Fixed Costs (TFC) Total Variable Costs (TVC) Total Costs (TC)
–
–
–
–
30 30 60 90
19 24.5 30 54.5
16 21.7 20 41.7
15 20 15 35
20 20 12 32
24 20.7 10 30.7
26 21.4 8.6 30
30 22,5 7.5 30
35 23.9 6.7 30.6
40 25.5 6 31.5
45 27.3 5.5 32.8
Explicit costs Vs. Implicit costs
微观经济学课件英文版 En-micro01
Economics
Relationship Between Microeconomics and Macroeconomics
Different e.g.object of study ,method of analysis Contact Microeconomics is the foundation of macroeconomics Complementary Both of them can research the same economy phenomenon from different visual angle .
01:14
5
An object of study
In short, Economics studies optimal allocation and full use of resources. In detail ：
Microeconomics What ,how,for whom Macroeconomics Resources are used fully or idly? How does inflation affect purchasing power? Can economy grow?
01:14
8
Theory System of Economics
Two branches：Microeconomics and Macroeconomics
Microeconomics Another name Theory base Basic assumptions Founder Subject Key theory Major aim Individual Economics Macroeconomics Overall Economics
Relationship Between Microeconomics and Macroeconomics
Different e.g.object of study ,method of analysis Contact Microeconomics is the foundation of macroeconomics Complementary Both of them can research the same economy phenomenon from different visual angle .
01:14
5
An object of study
In short, Economics studies optimal allocation and full use of resources. In detail ：
Microeconomics What ,how,for whom Macroeconomics Resources are used fully or idly? How does inflation affect purchasing power? Can economy grow?
01:14
8
Theory System of Economics
Two branches：Microeconomics and Macroeconomics
Microeconomics Another name Theory base Basic assumptions Founder Subject Key theory Major aim Individual Economics Macroeconomics Overall Economics
微观经济学英文课件Ch_06
uses a large shortage
Controlled rent
Shortage
Demand
0 Quantity of Apartments
纽约的故事
• 1943年，作为临时性战时措施之一，美国联邦政府实行了租 金控制。但是战争结束后，房租控制却被纽约州特别是纽约 市以法律的形式继承了下来。 • 在1975年，多达642000所公寓住房受到房租管制，另外有 650000所公寓住房受到一种被称为房租稳定化的复杂形式的 法规管辖。 • 1960年的普查显示：有25％的租房者支付了高于房租管制所 规定的法定房租的租金。应当注意这还不包括贿赂或质量下 降在内，这些只是人们支付超越指定价格的租金。 • 1970年，有33000个单元被遗弃，到1974年，又有10000多个 单元被遗弃。在布朗克斯区和曼哈顿岛东下端的一些地方， 整排被遗弃的公寓空无一人，被流浪者们穴居和拆散。 • 纽约市房租控制的长期性后果一直是住房存量的衰退和中低 收人的房客可获得的住房数量的下降，因为被豁免房租管制 而豪华公寓持续不断地被建造出来。
Price of Ice-Cream Cone Equilibrium price
Supply
$3
2
Price floor Demand
0
100
Equilibrium quantity
Quantity of Ice-Cream Cones
A Price Floor That Is Binding...
– 经济学家的职能之一就是使用他们的理论来协助制订 政策。
Price Control… 价格控制
• Are usually enacted when policymakers believe the market price is unfair to buyers or sellers.
Controlled rent
Shortage
Demand
0 Quantity of Apartments
纽约的故事
• 1943年，作为临时性战时措施之一，美国联邦政府实行了租 金控制。但是战争结束后，房租控制却被纽约州特别是纽约 市以法律的形式继承了下来。 • 在1975年，多达642000所公寓住房受到房租管制，另外有 650000所公寓住房受到一种被称为房租稳定化的复杂形式的 法规管辖。 • 1960年的普查显示：有25％的租房者支付了高于房租管制所 规定的法定房租的租金。应当注意这还不包括贿赂或质量下 降在内，这些只是人们支付超越指定价格的租金。 • 1970年，有33000个单元被遗弃，到1974年，又有10000多个 单元被遗弃。在布朗克斯区和曼哈顿岛东下端的一些地方， 整排被遗弃的公寓空无一人，被流浪者们穴居和拆散。 • 纽约市房租控制的长期性后果一直是住房存量的衰退和中低 收人的房客可获得的住房数量的下降，因为被豁免房租管制 而豪华公寓持续不断地被建造出来。
Price of Ice-Cream Cone Equilibrium price
Supply
$3
2
Price floor Demand
0
100
Equilibrium quantity
Quantity of Ice-Cream Cones
A Price Floor That Is Binding...
– 经济学家的职能之一就是使用他们的理论来协助制订 政策。
Price Control… 价格控制
• Are usually enacted when policymakers believe the market price is unfair to buyers or sellers.
微观经济学英文版PPT课件
Or, the opportunity cost that use a certain resource is the highest price of abandoning other uses of this resource
10
2.2 the definition of microeconomics
The starting point of economics searching The definition of Microeconomics People how to make decision Why need to bargain Why need to build market economics
Economics is a study, learning selection of scarce resources with different uses; The goal is effective allocation of scarce resources to produce goods and services, and in the present or future, let them reasonable allocated to social members or group for consumption.
8
Production possibilities curve
PPC is a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
10
2.2 the definition of microeconomics
The starting point of economics searching The definition of Microeconomics People how to make decision Why need to bargain Why need to build market economics
Economics is a study, learning selection of scarce resources with different uses; The goal is effective allocation of scarce resources to produce goods and services, and in the present or future, let them reasonable allocated to social members or group for consumption.
8
Production possibilities curve
PPC is a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
微观经济学英文版精品PPT课件
Chapter 1: The Fundamentals of Economics（A. Introduction）
1.2 Microeconomics and Macroeconomics
What is Microeconomics ?
It is concerned with the behavior of individual entities such as markets, firms and households.
You want to buy a computer which is $2510. while it is $2500 in the supermarket in downtown. Wherever you buy the computer, it would return to the producer if there is any problem. Where would you buy it？
There are three types of economies:
Market economy Command economy Mixed economy
Chapter 1: The Fundamentals of Economics (C. Society’s technological possibilities)
Chapter 1: The Fundamentals of Economics（A. Introduction）
1.1 Scarcity and Efficiency
What is economics ?
Economics is the study f how societies use scarce resources to produce valuable commodities and distribute them among different people.
《微观经济学microeconomics》英文版全套课件(101页)
X RL {x R : xl 0 for l 1,..., L}
The economic constraint:
px p1x1 ... pL xL w
The Walrasian budget set (Definition 2.D.1)
Bp,w {x RL : px w}
or
u(x* ) xl
pl
px w
Solution: Walrasian demand function x*( p, w)
Utility Maximization -- Example
Example 3.D.1: the transformed Cobb-Douglas Utility Function
Expenditure Function
Expenditure function e( p,u) Min px s.t. u(x) u {x}
Properties: 1. Homogeneous of degree of one in p 2. Strictly increasing in u and nondecreasing in p 3. Concave in p 4. Continuous in p and u
Comparative Statics – Wealth Effects
The consumer’s Engel function x( p, w)
The wealth effect xl ( p, w) / w or Dwx( p, w) Normal goods and inferior goods
A choice rule C(B) B
The weak axiom of revealed preference (WARP): if x is revealed at least as good as y, then y cannot be revealed preferred to x
The economic constraint:
px p1x1 ... pL xL w
The Walrasian budget set (Definition 2.D.1)
Bp,w {x RL : px w}
or
u(x* ) xl
pl
px w
Solution: Walrasian demand function x*( p, w)
Utility Maximization -- Example
Example 3.D.1: the transformed Cobb-Douglas Utility Function
Expenditure Function
Expenditure function e( p,u) Min px s.t. u(x) u {x}
Properties: 1. Homogeneous of degree of one in p 2. Strictly increasing in u and nondecreasing in p 3. Concave in p 4. Continuous in p and u
Comparative Statics – Wealth Effects
The consumer’s Engel function x( p, w)
The wealth effect xl ( p, w) / w or Dwx( p, w) Normal goods and inferior goods
A choice rule C(B) B
The weak axiom of revealed preference (WARP): if x is revealed at least as good as y, then y cannot be revealed preferred to x